Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Popular analyst Ali Martinez dropped an interesting on-chain revelation regarding major cryptocurrency Dogecoin (DOGE). Thus, citing on-chain data, Martinez underscores increased interest in Dogecoin, with major investors having collectively purchased 140 million DOGE in the past 24 hours.
This amount of DOGE equates to $56 million at the current price per Dogecoin, which is over 2% of the daily volume of $2.64 billion - in short, a lot. Currently, the price of DOGE is flirting with a major resistance zone right at $0.40.
Yuri MolchanPerhaps the potential for a huge breakout higher is what is prompting the biggest investors to buy the meme coin. These are wallets that hold between 1 million DOGE and 100 million DOGE, which means that the smallest of this group holds at least $400,000 in Dogecoin.
If the DOGE breakout is successful, the price may rise to $0.46, which is the next resistance level, and where DOGE saw its annual high in 2024. With an all-time high from 2021 still sitting at $0.75 per DOGE, and Bitcoin renewing its value almost every new week, the temptation for whales to drive the meme coin to this coveted mark may be as strong as ever in these four years.
Gamza KhanzadaevThe whales' latest acquisition may also signal confidence in a broader market trend favoring altcoins. It also raises speculation about whether Dogecoin, buoyed by its loyal community and market momentum, could make a bid to reclaim its former glory.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Vladislav Sopov
Godfrey Benjamin
Dan Burgin